So, for context, I have admittedly very basic knowledge of economics that is why I am genuinely asking to have this explained to me: I want to ask about Al and its future. I am assuming the goal of most companies is to sell something, not just to sell but to sell at the sweetspot of highest price possible and most buyers possible to achieve the highest profit possible. And to also keep customers and at best grow customers. So, if Al is expected to take over many if not most Jobs in the future in order to lower costs and therefore high-ten profit, who is going to buy the product? If there is no money left over to be spend, there is also no money left over to be earned. If the job of thousands of people get replaced and they are now unemployed or settling for lower paying jobs, who is going to buy the expensive, phones, the expensive lawyers? Who is going to have money left over to invest into shares, who is going to be able to offer enough security to borrow money from the banks. Who will even have enough money to invest into them. Even if we keep shoveling the means from the middle class to the ultra rich 2 or 5%, even they don’t need a hundred super cars or a hundred Iphones. If Al takes over the wages of most people who will actually buy the products of the super rich.? How will Al grow profit if it will ultimately shrink the money needed to create this profit. If no one will be able to buy a house without going into debt that will never be repaid how will the banks make money? Ultimately, explain it to me like I am 5, why do we want Al to take over the Jobs of the middle class, who make up the biggest customer base in the western world? (PS I have read previous posts but have not found an adequate answer) submitted by /u/Green-Development623
Originally posted by u/Green-Development623 on r/ArtificialInteligence